Nymex Holdings (NMX)
On Friday I went long Nymex Holdings (NMX). I am using some leverage with this position. CBOT's (CBOT) stock traded higher on its second day of trading. Will Nymex follow? Nymex will be range bound between $120-$140 for the next couple of sessions. Over the long term, Nymex will benefit from exchange consolidation, higher contract fees, new product introductions, electronic trading agreement with the CME (Globex), and an increased public interest in trading commodities.
Note: I am long NMX
Note: I am long NMX
posted by Big Ben at Sunday, November 19, 2006
2 Comments:
This one just seems much too volatile for me. I know people like the quick movements, but I'd perfer something that the public has never heard about and make up the gains over a longer period of time as earnings grow. No concern that traders could take profits and cut and run on this one?
Sure there will be profit taking. But the underlying supply and demand will keep this stock above $120.
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